FBLA INTRO TO BUSINESS CONCEPTS EXAM ACTUAL
QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS
VERIFIED LATEST UPDATE GRADED A+ 2026/2027
monetary policy and the monetary policy uses tools such as
role of the Federal interest rate, etc, in order to
Reserve System (Jerome properly regulate the economy
Powell - Federal Reserve
Chairman)
sole proprietorship when a person files with the
government in order to create a
separate entity for business
ventures
joint partnership when at least two people file to
create a business
corporation A business owned by stockholders
who share in its profits but are not
personally responsible for its
, debts
Types of funding loans, angel investors, shareholders,
royalties
50/30/20 rule - budgeting 50% to your needs, 30% to wants,
20% to savings
writing checks fill out checks (practice)
balancing a checkbook deposits = withdrawals + balance,
check bounce if insufficient funds
Compare services Banks offer meager yield rates and
provided by banks, high-interest rates but can offer
credit unions, and other loans. Credit Unions ...
financial institutions. Credit cards offer incredibly high-
interest rates and can offer
advances, due does not incur
interest until after 30 days, and
should not be used for business
loans.
Credit Union Credit union: They are nonprofit
QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS
VERIFIED LATEST UPDATE GRADED A+ 2026/2027
monetary policy and the monetary policy uses tools such as
role of the Federal interest rate, etc, in order to
Reserve System (Jerome properly regulate the economy
Powell - Federal Reserve
Chairman)
sole proprietorship when a person files with the
government in order to create a
separate entity for business
ventures
joint partnership when at least two people file to
create a business
corporation A business owned by stockholders
who share in its profits but are not
personally responsible for its
, debts
Types of funding loans, angel investors, shareholders,
royalties
50/30/20 rule - budgeting 50% to your needs, 30% to wants,
20% to savings
writing checks fill out checks (practice)
balancing a checkbook deposits = withdrawals + balance,
check bounce if insufficient funds
Compare services Banks offer meager yield rates and
provided by banks, high-interest rates but can offer
credit unions, and other loans. Credit Unions ...
financial institutions. Credit cards offer incredibly high-
interest rates and can offer
advances, due does not incur
interest until after 30 days, and
should not be used for business
loans.
Credit Union Credit union: They are nonprofit
